Worldwide revenue from advanced HVAC controls is expected to grow from $7 billion annually in 2014 to $11.7 billion in 2023, according to a new report
BOULDER, Colo.–(BUSINESS WIRE)–Heating, ventilation, and air conditioning (HVAC) in commercial buildings typically accounts for roughly 40% of total building energy consumption. While advancements have been made in the efficiency of HVAC equipment, the actual energy consumption of HVAC equipment depends largely on their operation – which can be made much more efficient and less energy-intensive through the application of advanced HVAC controls. […]
“The drive to reduce energy use in commercial buildings has put a spotlight on improving the efficiency of HVAC systems, and HVAC controls retrofits offer a compelling value proposition through reduced energy consumption in existing buildings.”
New building certification and benchmarking regulations are driving faster retrofits of controls in existing buildings, according to the report, and changing how automation is designed into new buildings. The wider adoption of open standards for controls functions (such as BACnet), and of communications based on the Internet Protocol (IP) suite and Ethernet connectivity, is expected to help bring advanced HVAC technology to a wider market.
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